Which of the Following Is a Disadvantage of Using Simulation

question 12

Multiple Choice

Which of the following is a disadvantage of using simulation?

• A)Experimenting directly with a simulation model is often not feasible.
• B)Each simulation run provides only a sample of how the real system will operate.
• C)The simulation models are used to describe systems without requiring the assumptions that are required by mathematical models.
• D)Simulation models warn against poor decision strategies by projecting disastrous outcomes such as system failures, large financial losses, and so on.

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Definitions:

Product Differentiation

The process of distinguishing a product or service from others in the market to make it more attractive to a specific target market.

Economic Analysis

The process of examining statistics, market trends, and financial principles to make a comprehension of the economic landscape for decision-making purposes.

Product Promotion

Product Promotion involves various techniques and strategies used by businesses to inform, persuade, and remind consumers about their products and services.

Strategic Pricing

Involves setting prices based on market factors, competition, and company goals to maximize profitability or market share.